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Friday newspaper round-up: HSBC, Tesco, windfall tax

(Sharecast News) - HSBC has temporarily withdrawn mortgage deals for new borrowers due to a surge in demand ahead of expected rate rises. The bank said on Thursday it would remove all its "new business" residential and buy-to-let products, with deals becoming available again on Monday. - Guardian The consumer group Which? has reported Tesco to the UK's competition watchdog over the supermarket's failure to provide detailed pricing information on its loyalty card offers. The group said the UK's largest retailer had not clearly explained the unit price of deals for its Clubcard holders - such as the price per 100g or 100ml - so that shoppers could easily compare value for money between different sized packages, bottles, brands and retailers. - Guardian

Jeremy Hunt is preparing to soften the Government's windfall tax on oil and gas companies after warnings of a jobs bloodbath in the North Sea. The Chancellor could announce changes to the so-called energy profits levy as soon as Friday, The Telegraph understands, following intense lobbying by the industry. - Telegraph

Three of America's biggest investment banks could cut their ties with Crispin Odey's investment firm over allegations that the fund manager is facing more than a dozen accusations of sexual assault and harassment. Goldman Sachs, Morgan Stanley and JPMorgan Chase are reviewing their relationships with Odey Asset Management after allegations that Odey harassed or assaulted 13 women, according to an investigation by the Financial Times, which also said that the City regulator had opened an inquiry two years ago which is believed to be continuing. - The Times

France is claiming victory over Germany in the battle to lure bankers from London, attracting thousands of finance jobs with a little help from Emily in Paris. The TV series appears to have helped convince bankers that the Parisian lifestyle offers perks that Frankfurt cannot match. - The Times

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Wednesday newspaper round-up: Thames Water, Johnson & Johnson, BoE
(Sharecast News) - Thames Water may need as much as £10bn in debt and equity investment to repair its finances, according to a representative of creditors hoping to lend the struggling utility another £3bn. London's high court heard evidence on Tuesday that suggested the UK's largest water company may need significantly more resources than the roughly £6.3bn it has previously indicated. - Guardian
Monday newspaper round-up: Zero-hours contracts, Barclays, Asos
(Sharecast News) - Hundreds of thousands of British workers are on zero-hours contracts despite being with the same employer for years, according to analysis from the TUC. The majority of zero-hours contract workers have been with their employer for more than 12 months, while one in eight have not been granted regular employment rights after more than a decade working in the same place, the organisation said. - Guardian
Friday newspaper round-up: Apple, Daily Mail, OpenAI, Homebase
(Sharecast News) - Apple slightly beat analysts' expectations in its first-quarter earnings for fiscal year 2025 on Thursday. The iPhone-maker's revenue rose by 4%, coming in at $124.30bn, barely above estimates of $124.12bn. Earnings per share were $2.40, just ahead of analysts' expectations of $2.35. Shares rose more than 8% in extended trading after CEO Tim Cook indicated in an earnings call on Thursday that Apple is on the trajectory for revenue growth next quarter. - Guardian
Thursday newspaper round-up: Car production, UK retailers, water bills, KPMG
(Sharecast News) - The architect of a ban on newspaper takeovers by foreign states has demanded that an Abu Dhabi fund be forced to sell The Telegraph by Easter. Baroness Stowell, the Conservative chairman of the Lords communications and digital committee, said the Government should impose an ultimatum on RedBird IMI. It should be backed by the threat of regulatory action, she said, to strip the fund of control of what has been dubbed "the newspaper auction from hell". - Telegraph

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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